RBI Framework for Green Deposits
On 11th April, 2023, the Reserve Bank of India (RBI) on April 1 announced the framework for acceptance of Green Deposits of regulated entities (RE).
- The idea is to foster and develop a green finance ecosystem in the country.
- The framework shall come into effect from June 1, 2023.
Need
- Climate change has been recognised as one of the most critical challenges faced by the global society and economy in the 21st century.
- The financial sector can play a pivotal role in mobilizing resources and their allocation thereof in green activities/projects.
About the Framework
Applicability
- Scheduled Commercial Banks including Small ....
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